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Below is an Interesting article I found, which says that.....Do not
# L' a) h0 _# c. C9 ]( {expect much from Crude Oil producers and future is not with the 5 m! B2 p4 ?/ {/ J
companies producing Jet fuels but Biofuels. Also no wonder if some of `$ p: {9 X o
these oil producer will go bankrupt or out of the business even if " A& @4 Y/ w# G8 `# }! u8 S" f% w- D1 u
crude prices improves. This implies also to good names such as Shell,
8 l P F# g; A( x: g$ ]EXXON, BG, BP, Cheveron ....xyz.. oils 3 d1 f N- C% Y
0 L$ E+ R4 \7 A8 q1 q2 BRecently OPEC reduced crude oil production twice over just a few % U% b+ m8 l2 R( A L
months. There are three wars going on in Gaza, Iraq and Afghandistan.
6 e \8 p# a5 @* l& d' u, Y" K( P( _A year ago these things would have spiked the price of crude oil by at # T L) r3 B* T
least $50.00 per barrel. Today, oil price declined by a record amount.
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There are several reasons the price of oil is decreasing in the face ( C' O, Z. o+ f, R8 s
of so much news. These reasons are: * h9 N7 y' g; I. c' H0 e
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3 D) l6 K* H7 n' S$ n! n1. New oil has been found in Canada, Montana, North & South Dakota and Z4 x' z! ~& Q: f# Z( I. T
in the ocean near Brazil. Each of these oil fields has more oil than
: Q% G! z% s% o3 O) XArabia. # ~1 B- r- S+ M8 b- _4 [
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2. New natural gas has been found in Pennsylvania and West Virginia.
( f+ g* ^- s F% p1 |6 `This is the largest find in North America. 0 |* n$ Y i0 S5 c2 j) T, R+ D: Z
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3. New methods of injecting CO2 and surfactants into oil wells is
! y1 [8 k$ `6 U% i7 h, N- Nbeing used to double their output. ' \" I# l" @5 e
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4. Production of bio-fuels is beginning to reach critical mass. Bio 8 W1 P. p; P) U) M2 }' C% f1 d
fuel is being produced from many plants and algae. The production 3 ^ ^' @2 I# [2 x1 B+ g* b
potential per acre in some cases is astounding. Many countries are - H0 M( J4 t5 o
racing to produce bio fuels.
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5. Virtually every restaurant in the US and all food processing plants $ G8 o0 x+ B# V- r; h1 R r
are now selling their used oil to bio-diesel producers. Every pork,
' {4 V- N. N1 h- i* Dcattle, turkey and chicken processing plant will soon sell their fat 7 F6 z: L N1 ?7 U0 ]* H
to bio-diesel producers. One pork processing plant in Oklahoma is
! n$ e) `% A4 S0 j6 Z o) |5 tproducing 30,000 gallons of bio-diesel per day from pork fat. * g! S2 A! [" A: s: h1 o
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6. There are 99 nuclear reactors in various stages of planning and * O+ ^# X" C: E, B, e! z
construction around the world at this time. Several hundred more are 4 U; d1 P( M; S7 v; B
expected to be built in the future. Much of the energy they produce
( M# Y5 N/ ~/ E4 |, S x! K) Twill replace oil. 2 k3 L# a& a5 |/ E2 _
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2 G( B7 }# N: r' t; P7. Every company in any form of transportaion business is replacing 8 {# c1 u6 a0 o
older equipment such as trucks, airplanes, train engines, ships, etc. - |" T" B# A$ W7 [" x: E, }+ [
with new more fuel efficient equipment. Airlines and railway companies @7 `! @* c8 o$ ?" V
are experiencing 20% to 25% better fuel econony with the new ' b) T c- L+ j+ m, u$ I) z
equipment. - I5 o$ P5 ?* }4 `" ]9 N
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Airlines are flying airplanes with bio-fuel. They are finding the bio- ! U! S5 w2 |& C6 l! Q
fuel is cleaner and performs better than jet fuel. & r f5 Z: h8 T3 a& |. Z
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7 h4 \% B: j7 g: Z& ~# R1 c3 E+ M5 |" X8. Cities and counties throughout the US are selling the rights to 8 [1 B2 u% x `* l
capture methane gas from landfills. This is a huge source of gas , \, x9 J7 e6 f
available at very little cost or risk. The gas is displacing crude
( m4 H2 s$ f) w9 Y( z1 V1 @oil. 7 l+ J1 Y e, z( Z/ D |6 W
d3 }2 P" I0 U c$ z' t2 u% k$ B
9. Coal is being transformed into a clean burning liquid fuel. The CO2 - \( m3 ?4 l) R, F
produced as a byproduct is sold to oil companies for injection into # I& f: c4 H! ~3 r+ r( r3 n+ e
oil wells.
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10. Solar, wind and ocean energy is displacing oil as an energy
, r$ s, W, I% E! J5 osource. Three new wind turbines are being erected every day in the US.
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! G1 I4 h/ N1 ]8 lEach of the above by itself will not make a large difference in the 0 h2 O% w# U6 B2 e
price of crude oil but the sum of all of them together is world
9 ]3 f6 C$ y7 u: Xchanging. The important thing is that OPEC no longer has the ability + C @% P* h! ?: U
to control oil prices. + s# i+ |% `, J% k7 w% ^
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! d5 y! k5 A; {; iWith the above scenario, I still believe that there are under + b7 d2 P- j. S( j9 Y
performed OIL companies and probably they are yet to get the justified
: j0 q+ W5 J/ m4 D/ Z% _) Evalue ..... # U7 T( @ H% Q$ x7 W$ t
IAE- Ithaca , EPL Energy Partners Ltd, Opti etc ... 7 G! i8 f( i; x. \) \
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The above articles are from WSJ .............PUBLISHED ON 9TH JAN 8 @. W' A/ u" c. W! Z4 T$ o
2009 ... FYI-Only |
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